5 Benefits when Working with an Insurance Broker

Insurance may not be the most exciting topic to most, but it's essential for protecting our homes, families and valuables. If you’re in the market for insurance, your options can seem limitless and overwhelming. We’re sharing the benefits you receive when working with a broker and how they can differ from working directly with an insurance company.

The Benefits of an Insurance Broker

1. Customized Insurance Solutions for Your Needs

Insurance coverage should look different for everyone. If you’re a homeowner, your protection strategies will be different from someone who is renting. If you’re a business owner or you sit on a local board such a non-profit organization, you may be exposed to different types of risks than your family and friends. An insurance broker will ask you a variety of questions to ensure all of your risks are solved for with coverage, even if it means multiple policies. Home renovations, new teenage drivers and the pets in your family prove there shouldn’t be a one size fits all approach when it comes to insurance.

Working directly with insurance companies has limitations and means you might miss out on better options available in the market, potentially leading to higher premiums or less comprehensive coverage. This is because these companies can only provide their own products so if you need protection they don’t offer, you’ll have to go elsewhere to find it.

2. Access to Resources

As you experience different life stages, expect your coverage to evolve. Brokers are well-versed in the intricacies of different policies, offering guidance on the most suitable coverage for your situation. An insurance broker provides access to multiple insurance companies, offering a variety of solutions tailored to your specific needs and budget as situations evolve.

While you may not need certain coverages currently, working with brokers like AssuredPartners gives you access to expertise across a variety of industries including business insurance, employee benefits and specialty expertise for industries like construction, aerospace and real estate. They also allow you to gain access to the same resources globally, so if you ever move or your situation changes, team members are ready to support you no matter where life takes you.

3. Acting in Your Best Interest

Insurance brokers represent multiple carriers, allowing them to find the best coverage specifically tailored to you and work in your best interest. With their market expertise and reach, they find competitive and comprehensive policies that address your unique concerns. Insurance can be complicated and may be challenging to put together on your own without guidance. “People want to do business with someone they know and trust,” says Kimberly Hardy, Vice President of Personal Lines. “I treat all of my clients and referrals with that principle always in mind. I value my relationships and strive to maintain clients for life.”

Unlike insurance brokers, insurance company representatives are employees of the insurer, which can sometimes create a conflict of interest. Their primary obligation is to the company, rather than to you. This might result in less personalized service and a focus on selling specific products, sometimes at the expense of your best interests.

4. Ongoing Support

Many brokers provide ongoing support, keeping you informed of any changes in the industry that could impact your coverage and recommend adjustments as needed to keep your protection up to date. They also serve as your advocate when navigating claims, simplifying the process and ensuring fair settlements.

In the event of a claim, you might not receive the same level of advocacy that a broker provides if you choose to work with an insurance company directly. Navigating the claims processes can be challenging without a dedicated advocate to assist you, potentially leading to delays or less favorable settlements. Additionally, the ongoing support and market insights that brokers offer are often absent, leaving you responsible for staying informed about industry changes and adjusting your coverage accordingly.

5. Simplifying and Saving Time on Insurance

Comparing prices from different insurance companies typically requires filling out your personal information multiple times on various quote forms. Using a broker, you only provide your information once, and they handle the comparisons for you, saving time shopping around. Instead of trying to find reliable answers online, once you submit to get a quote with us at AssuredPartners, a real person will contact you to review their findings and help answer any questions along the way.

An insurance broker not only simplifies the process of obtaining and managing your insurance but also provides peace of mind knowing that you have a knowledgeable partner looking out for your best interests. Having your coverage all in one place makes it easier to ask questions, access policies and get support when needed.

Let Us Do the Heavy Lifting

While there’s certainly more than just five benefits when working with an insurance broker, we highlighted the main reasons you may want to consider the next time you’re shopping around for insurance. Insurance can be a complicated subject, but you shouldn’t have to navigate it alone. Let a broker help you through the process and take some of the heavy lifting off of your plate. Find an agent near you to learn more today.